AMERICAN JEWELLERS.

New Zealand Herald, Volume LXI, Issue 18635, 29 April 1924, Page 7

AMERICAN JEWELLERS.

INSURANCE AGAINST LOSS. LARGE NUMBER OF THEFTS. A. and N.Z. NEW YORK. April 27. Another angle of the risks which threaten the New York jewellery trade was disclosed in a Chicago report that Lloyd's, London, had cancelled the socalled all jewellery "floaters." These were special policies which the English agents issued to American jewellers, protecting the latter against all hazard. The cancellation is said to be due to the large number of thefts. The Jewellers' Protective Committee, New York, immediately stamped the report as incorrect, but admitted that Lloyd's recently suffered losses estimated at £6C0,C00. These were due almost entirely to losses sustained by diamond and jewellery salesmen from New York, who reported having been robbed. The. Chicago committee declares that many of these losses were ostensibly fraudulent, and asserts that Lloyd's will not discontinue the practice of issuing comprehensive policies to responsible jewellers in America. The committee moreover alleges that the business of jewellers is menaced by so-called Oresponsible sidewalk diamond merchants, whose business and whose losses are often illegitimate.